| Mon 5 Dec 2011, 14:05 | | NEP - New Europe Property Investments plc - Results of the rights offer |
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NEP
NEP
NEP - New Europe Property Investments plc - Results of the rights offer
New Europe Property Investments plc
(Incorporated and registered in the Isle of Man with registered number
001211V)
(Registered as an external company with limited liability under the laws of
South Africa, registration number 2009/000025/10)
AIM share code: NEPI
BVB share code: NEP
JSE share code: NEP
ISIN: IM00B23XCH02
("NEPI")
RESULTS OF THE RIGHTS OFFER
Shareholders are referred to the rights offer to NEPI shareholders which
closed on Monday, 28 November 2011 in respect of pre-emptive rights holders
registered in Romania and Friday, 2 December 2011 in respect of
shareholders on the SA and UK share registers ("the rights offer").
Shareholders are advised that in respect of the 14 285 714 NEPI shares
("new NEPI shares" or "rights offer shares") which were offered,
shareholders and/or their renouncees applied for a total of 21 113 283 new
NEPI shares (148% of the new NEPI shares available under the rights offer).
The applications included excess applications for 8 674 131 new NEPI
shares, of which 1 846 562 new NEPI shares will be allocated equitably,
taking cognisance of the number of shares and rights held by the
shareholder immediately prior to such allocation, including those taken up
as a result of the rights offer, and the number of excess shares applied
for by such shareholder.
The rights offer was fully underwritten by Fortress Income 2 Proprietary
Limited, a wholly-owned subsidiary of Fortress Income Fund Limited
("Fortress"). Given that the rights offer was fully subscribed for after
taking into account the excess applications received, Fortress will not be
allocated any rights offer shares pursuant to its underwriting obligation.
Dematerialised shareholders on the SA share register who have subscribed
for rights offer shares will have their accounts debited and updated by
their CSDP/broker on Monday, 5 December 2011. Certificated shareholders on
the SA share register who have subscribed for rights offer shares will have
certificates posted to them on Wednesday, 7 December 2011.
Dematerialised shareholders on the SA share register who applied for excess
rights offer shares will have the excess shares allocated to them debited
to their accounts by their CSDP/broker on Wednesday, 7 December 2011.
Certificated shareholders on the SA share register who applied for excess
rights offer shares will have certificates and/or refund cheques posted to
them on or about Wednesday, 7 December 2011.
For shareholders on the UK share register, it is expected that the new NEPI
shares in uncertificated form will be credited to CREST accounts as soon as
practicable after 8.00 a.m. UK time today, 5 December 2011, and that share
certificates in respect of new NEPI shares in certificated form will be
despatched to shareholders by Wednesday, 7 December 2011.
For shareholders on the UK share register, who have applied for excess
rights offer shares, it is expected that the excess rights offer shares in
uncertificated form will be credited to CREST accounts as soon as
practicable after 8.00 am UK time on Wednesday, 7 December 2011 and that
share certificates in respect of excess rights offer shares in certificated
form will be despatched to shareholders by Wednesday, 7 December 2011.
For pre-emptive rights holders registered in Romania who have exercised
their rights, new NEPI shares will be credited to the global accounts of
the brokers/custodians, where the pre-emptive rights holders have their
individual accounts, on Monday, 5 December 2011.
For pre-emptive rights holders registered in Romania who have subscribed
for excess rights offer shares, excess rights offer shares will be credited
to the global accounts of the brokers/custodians, where the pre-emptive
rights holders have their individual accounts, on Wednesday, 7 December
2011.
All terms defined in the circular to NEPI shareholders in respect of the
rights offer, dispatched on 14 November 2011 shall have the same meaning in
this announcement.
5 December 2011
For further information please contact:
New Europe Property Investments plc +40 74 432 8882
Martin Slabbert
Nominated Adviser and Broker +44 20 7131 4000
Smith & Williamson Corporate Finance Limited
Azhic Basirov/Siobhan Sergeant
Corporate advisor, legal advisor as to South +27 11 283 0042
African law and JSE sponsor
Java Capital
Romanian advisor +40 21 222 8731
SSIF Intercapital Interest SA
Razvan Pasol
Date: 05/12/2011 14:05:37 Produced by the JSE SENS Department.
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